The list of businesses that have done better for their shareholders in the past 20 years than (NASDAQ: NFLX) is undoubtedly a very short one. This booming streaming stock has skyrocketed 13,500% during that time, certainly making millionaires along the way. In fact, a $7,500 initial investment back then would be worth more than $1 million today.

With a current market cap of $272 billion as Netflix shares approach record territory, is it too late to buy this stock?

A discussion about Netflix can't ignore how wonderful of a business it is. The key ingredient for the company's success is its first-mover advantage in the industry. Executives were convinced that the internet would radically shift how consumers viewed video content. And boy, were they right.

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Source Fool.com